Benzoic Acid Market Summary
As per MRFR Analysis, the Global Benzoic Acid Market was valued at USD 717.10 million in 2023 and is projected to grow to USD 890.59 million by 2030, with a CAGR of 3.26% from 2024 to 2030. The growth is driven by the extensive use of benzoic acid as a preservative in the food & beverage and pharmaceutical industries, alongside its applications in cosmetics and personal care products. The increasing demand for packaged food and beverages, along with the growing pharmaceutical sector due to rising disease prevalence, significantly contributes to market expansion. Additionally, the trend towards non-phthalate plasticizers is further propelling the market.
Key Market Trends & Highlights
Key trends influencing the Benzoic Acid Market include:
- Growing demand in packaged food and beverages, with benzoic acid used as an effective preservative.
- Increasing pharmaceutical industry reliance on benzoic acid for extending shelf life of medications.
- Rising use of benzoates in cosmetics and personal care products to inhibit microbial contamination.
- Adhesives & sealants segment projected to dominate market revenue due to antimicrobial properties.
Market Size & Forecast
2023 Market Size: USD 717.10 million
2024 Market Size: USD 734.81 million
2030 Market Size: USD 890.59 million
CAGR (2024-2030): 3.26%
Largest Regional Market Share: Asia-Pacific.
Major Players
Key players include Lanxess, Eastman Chemical Company, Merck KGaA, and Foodchem International Corporation.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Benzoic Acid Market Trends
-
GROWING DEMAND IN PACKAGED FOOD AND BEVERAGESÂ
The increasing consumption of benzoic acid in the food and beverage industry is majorly one of the key drivers boosting the growth of the Benzoic Acid Market. Benzoic acid is majorly used as a preservative in various food and beverage products due to its antimicrobial properties, which help extend shelf life and maintain product quality. Benzoic acid and its salts, such as sodium benzoate and potassium benzoate, are effective preservatives against bacteria, yeast, and molds. They inhibit the growth of microorganisms, thus preventing spoilage and extending the shelf life of food and beverage products. It can be used in a variety of food and beverage products, such as carbonated and non-carbonated beverages jellies, sauces, jams, salad dressings, fruit juices, pickles and baked goods. Benzoic acid is used as an antifungal agent and food preservative, which inhibits the growth of mold, yeast, and some bacteria, thereby extending the shelf life of the product. It also acts as a pH adjustor and changes the internal pH of microorganisms to an acidic state that is incompatible with their growth and survival. Benzoic acid exhibits low solubility in water and thus complicates its application in products with large water quantities. Therefore, the water-soluble sodium salt of benzoic acid, i.e., sodium benzoate is used. The potassium and calcium salts of benzoic acid are also used. Benzoic acid is frequently used in blend with sorbic acid at levels of 0.05 to 0.1%. Its effectiveness across a broad spectrum of products makes it a popular choice for manufacturers.
GROWING PHARMACEUTICAL INDUSTRY
Benzoic acid and its salts, such as sodium benzoate, are widely used as preservatives in pharmaceutical formulations to prevent microbial growth and spoilage. They help extend the shelf life of liquid preparations, syrups, and oral medications by inhibiting the growth of bacteria, yeast, and molds. Benzoic acid has been used in combination with salicylic acid, as in Whitfield's ointment, for use as an antifungal for athlete's foot and ringworm. Benzoic acid is also a precursor to many chemical reactions yielding organic compounds. When absorbed systemically, it is coupled to glycine in the liver and excreted as hippuric acid; it is not considered highly toxic. Additionally, it is also along with salicylic acid is used in the treatment for fungal skin diseases, such as tinea, ringworm, and athlete’s foot and inflammation caused by burns, insect bites, and eczema.
GROWING USE OF BENZOATES IN COSMETICS & PERSONAL CARE APPLICATIONS
Benzoic acid and its salts, such as sodium benzoate and potassium benzoate, are extensively consumed as preservatives in cosmetics and personal care products to inhibit microbial contamination and extend shelf life of the product. These preservatives help to maintain product quality and safety by inhibiting the growth of yeast, bacteria, and molds, especially in water-based formulations like lotions, creams, and shampoos. Benzoic acid is also used in mouthwashes, body cleansers, toothpaste, deodorants, hair & nail products, detergents, aftershave lotions, and sunscreens, which is expected to offer lucrative opportunities to manufacturers. Benzoic acid exhibits antimicrobial properties, making it useful for controlling microbial growth in personal care and cosmetics products. It helps inhibit the proliferation of microorganisms that can lead to product spoilage, odors, and contamination. In oral care products such as toothpaste and mouthwash, benzoic acid may be used as a flavouring agent to impart a pleasant taste or mask the taste of other ingredients. Its low odor and taste make it suitable for enhancing the overall sensory experience of these products.
Benzoic Acid Market Segment Insights
Benzoic Acid by Application Insights
The Benzoic Acid Market segmentation, based on Application has been segmented as adhesives & sealant, polymer (polyurethane, plastics, vinyl, rubber), benzoates, benzoate plasticizers, benzoyl chloride, animal feed additive, others. Among these, the adhesives & sealant segment is projected to dominate the Benzoic Acid Market revenue through the projected period. Â Benzoic acid is used in adhesive and sealants due to its antimicrobial properties which helps in preventing the growth of microorganisms such as fungi and bacteria. Also, it can act as a plasticizer that helps in enhancing the flexibility of sealants and adhesives.
Benzoic Acid by End-Use Industry Insights
Based on End-Use Industry, the Benzoic Acid Market is segmented as food & beverages, oil & gas industry, paints & coatings industry, automotive industry, pharmaceutical industry, others. Out of which the food & beverages segment dominated base year market and is also projected to dominate the Benzoic Acid Market revenue through the projected period. The demand for benzoic acid is increasing significantly from food and beverage industry owing to its effectiveness as a preservative. Benzoic acid and its salts can inhibit the growth of microorganisms, thereby extending the shelf life of food and beverage products.
Benzoic Acid Regional Insights
Based on Region, the Benzoic Acid market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The Asia-Pacific Benzoic Acid market held the maximum market share and is also expected to account for a significant revenue share during the forecast period. Additionally, Asia Pacific region is expected to account for the significant growth, with China and India leading the way. Growing food and beverage industry in the region, driven by population growth and rising disposable income has contributed to the high demand for benzoic acid. Also, benzoic acid is an important product used in pharmaceutical industry and the rising health awareness is driving the demand for benzoic acid.
Benzoic Acid Key Market Players & Competitive Insights
Key market players are emphasizing significantly on R&D for increasing their product offerings, which will further help the Benzoic Acid Market to grow considerably. Market players are adopting several business development strategies such as acquisitions, mergers, collaborations, and partnerships to enhance their market presence and acquire a larger customer base. To survive in the competitive market, industry players must provide cost effective products.
The Benzoic Acid market is very competitive with market players trying to develop unique and innovative products and solutions, which could render the competitors’ offerings obsolete. The competitive environment is likely to grow further owing to rising technological advancements. Some of the key players operating in the Benzoic Acid Market are Lanxess, Plater Group, Eastman Chemical Company, Foodchem International Corporation, Merck KGaA, Ganesh Benzoplast Limited, Anhui Primechem, Sinteza S.A, Choice Organochem LLP, Spectrum Chemical, Hemadri Chemicals, Wuhan Youji Industries Co., Ltd, Swastik Industries, Navyug Pharmachem Pvt Ltd, PENTA s.r.o, Liaoning Huayi Chemical Industry& Commerce Co.,Ltd, Ujwal Pharma Pvt. Ltd. To increase their global reach and client base, key firms are concentrating on acquisitions and product innovation.
Lanxess: Lanxess is a specialty chemicals company operating through three segments namely, advanced industrial intermediates, specialty additives and consumer protection and these segments include 10 business units, because of which the company works with a wide range of applications and markets. These business units include flavors fragrances, liquid purification technologies, inorganic pigments, lubricant additives, material protection products, rhein chemie, saltigo, polymer additives and urethanes. With presence in around 32 countries worldwide, Lanxess is fulfilling the requirements of its broad customer base present across regions such as Americas, Asia Pacific, Europe and Middle Rast & Africa. Moreover, company’s process management is certified under international standards such as ISO 9001 and ISO 14001.
Eastman Chemical Company: Eastman Chemical Company is a global specialty materials company. Its business is divided into four segments: additives & functional products, advanced materials, chemical intermediates and fibers. The industries that are served by the company through its extensive product offerings include transportation, building and construction, consumer durables, industrials and chemicals processing, food, feed and agriculture, health and wellness. It has significant global footprint with presence in more than 100 countries in regions such as Asia Pacific, Larin America, North America, Europe and Middle East & Africa. Company’s various manufacturing locations, including its corporate headquarters, have attained third-party certification of HSES management systems. Furthermore, it has certified 60% of its manufacturing locations with an environmental management system and has also certified 46% of the manufacturing locations with health and safety certificate.
Key Companies in the Benzoic Acid Market includes.
- Foodchem International Corporation
- Ganesh Benzoplast Limited
- Wuhan Youji Industries Co., Ltd
- Navyug Pharmachem Pvt Ltd
- Liaoning Huayi Chemical Industry& Commerce Co.,Ltd
Benzoic Acid Industry Developments
August 2023: Sinteza S.A. has launched a project to obtain thermal energy from waste in which it will use various by-products obtaining from benzoic acid production process to generate thermal energy (steam), which will be reintroduced into the production process.
August 2021: Lanxess completed the acquisition of Emerald Kalama Chemical, the US-based company specialising in the manufacturing of specialty chemicals.This acquisition has helped LANXESS to be one of the significant providers of products for flavors and fragrances for the consumer sector. By acquiring Emerald Kalama LANXESS was able to expand its portfolio of preservatives substantially.
Benzoic Acid Market Segmentation
Benzoic Acid Application Outlook
- Polymer (Polyurethane, Plastics, Vinyl, Rubber)
Benzoic Acid End-Use Industry Outlook
- Paints & Coatings Industry
Benzoic Acid Regional Outlook
- Middle East & Africa
- Rest of the Middle East & Africa
| Attribute/Metric |
Details |
| Market Size 2023 |
USD 717.10 million |
| Market Size 2030 |
USD 890.59 million |
| Compound Annual Growth Rate (CAGR) |
3.26% (2024-2030) |
| Base Year |
2023 |
| Forecast Period |
2024-2030 |
| Historical Data |
2019 & 2022 |
| Forecast Units |
Value (USD Million) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Application, End-Use Industry and Region |
| Geographies Covered |
North America, Europe, Asia Pacific, Middle East & Africa and South America |
| Countries Covered |
US, Canada, Germany, UK, France , Russia, Spain Italy, Netherlands, Poland, Ukraine, Estonia, Moldova, Romania, Portugal, Greece, Ireland, China, Japan, India, South Korea, Indonesia, Brazil, Mexico, Argentina, Turkey, Israel, South Africa, GCC Countries |
| Key Companies Profiled |
Lanxess, Plater Group, Eastman Chemical Company, Foodchem International Corporation, Merck KGaA, Ganesh Benzoplast Limited, Anhui Primechem, Sinteza S.A, Choice Organochem LLP, Spectrum Chemical, Hemadri Chemicals, Wuhan Youji Industries Co., Ltd, Swastik Industries, Navyug Pharmachem Pvt Ltd, PENTA s.r.o, Liaoning Huayi Chemical Industry& Commerce Co.,Ltd, Ujwal Pharma Pvt. Ltd |
| Key Market Opportunities |
·      Growing use of benzoates in cosmetics & personal care applications ·      Increasing demand for non-phthalate plasticizers over phthalate plasticizers |
| Key Market Dynamics |
·      Growing demand in packaged food and beverages         ·      Growing pharmaceutical industry |
Benzoic Acid Market Highlights:
Frequently Asked Questions (FAQ) :
Lanxess, Plater Group, Eastman Chemical Company, Foodchem International Corporation, Merck KGaA, Ganesh Benzoplast Limited, Anhui Primechem, Sinteza S.A, Choice Organochem LLP, Spectrum Chemical, Hemadri Chemicals, Wuhan Youji Industries Co., Ltd, Swastik Industries, Navyug Pharmachem Pvt Ltd, PENTA s.r.o, Liaoning Huayi Chemical Industry& Commerce Co.,Ltd, Ujwal Pharma Pvt. Ltd
